Midas ups its holdings by alternative asset classes.

Investment Adviser, August, 2004

ALTERNATIVE asset classes are being use to diversify the AGBP15m Midas Balanced Income fund.

The fund, which was launched in April 2002, has been raising its holdings in property, structured products and hedge funds to help provide "income security", according to fund information.

Aiming for a high yield of 5.85 per cent a year, with additional capital growth, the fund has 7 per cent in property and 5.6 per cent in structured products, with a further 3.5 per cent in alternative assets.

This means the fund has almost 16 per cent in non-core asset classes instead of being purely an equity/bond mix.

The fund has a 2.87 per cent shareholding in the Westbury Property trust, as well as holding bonds issued by property development groups...

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